Investors Purchase Large Volume of Check Point Software Technologies Put Options (CHKP)

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Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the recipient of some unusual options trading activity on Thursday. Traders acquired 3,181 put options on the company. This represents an increase of 1,638% compared to the typical daily volume of 183 put options.

Shares of CHKP stock opened at $107.82 on Friday. Check Point Software Technologies has a fifty-two week low of $93.76 and a fifty-two week high of $120.81. The stock has a market cap of $17.57 billion, a P/E ratio of 22.05, a PEG ratio of 2.03 and a beta of 0.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.02. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The business had revenue of $470.80 million during the quarter, compared to analysts’ expectations of $465.94 million. During the same quarter last year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Check Point Software Technologies will post 5.2 EPS for the current fiscal year.

Several equities research analysts recently commented on the stock. Guggenheim assumed coverage on shares of Check Point Software Technologies in a research report on Monday, December 10th. They issued a “neutral” rating and a $112.00 price objective on the stock. ValuEngine raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. BMO Capital Markets decreased their target price on Check Point Software Technologies to $120.00 and set a “market perform” rating for the company in a report on Friday, October 26th. Morgan Stanley decreased their target price on Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating for the company in a report on Thursday, October 25th. Finally, Wedbush initiated coverage on Check Point Software Technologies in a report on Thursday, October 18th. They issued an “outperform” rating and a $140.00 price target for the company. Nineteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $115.16.

A number of hedge funds have recently made changes to their positions in CHKP. Curbstone Financial Management Corp boosted its position in shares of Check Point Software Technologies by 0.6% in the 4th quarter. Curbstone Financial Management Corp now owns 17,000 shares of the technology company’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Check Point Software Technologies by 0.7% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 74,915 shares of the technology company’s stock valued at $8,815,000 after purchasing an additional 530 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Check Point Software Technologies by 1.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 49,512 shares of the technology company’s stock valued at $5,826,000 after purchasing an additional 556 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Check Point Software Technologies by 34.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,267 shares of the technology company’s stock valued at $267,000 after purchasing an additional 575 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Check Point Software Technologies by 14.5% in the 3rd quarter. Raymond James Trust N.A. now owns 4,685 shares of the technology company’s stock valued at $551,000 after purchasing an additional 593 shares during the period. 66.81% of the stock is owned by institutional investors and hedge funds.

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Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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